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Is it possible to pre- pay a house/mortgage loan In Poland?

11 Jun 2014 #1
Hello Guys ,

I want to know is it possible to pre pay a house loan / Mortgage in Poland . I am going for a 10 year loan for a flat in krakow . I am expecting some money in next 2 or years and would like to get rid of my loan( to be mentally free) .

Many banks do not allow prepayment in other countries and many times a penalty is on pre payment of loan .

peter_olsztyn 6 | 1,098
11 Jun 2014 #2
Of course you can pre-pay. Banks in PL want 1.5% - 3% in the first 1, 3, 5 years but it is worth to pay even 2000zl to be free again.
mcm1 2 | 81
11 Jun 2014 #3
We can pay ours off after 4 years with no penalty.
OP Pranzeee
11 Jun 2014 #4
One more question : Is monthly payment made for mortgage/ housing loan is tax deductible ? for example in USA the monthly payment you make to pay off your housing Loan is not considered as your income while calculating income tax .
f stop 25 | 2,513
11 Jun 2014 #5
In US the interest you pay on your home mortgage is deductible, not the principal.
peter_olsztyn 6 | 1,098
11 Jun 2014 #6
It was in 2002 but died in 2007 and the interest only.
Dont gag me yo 7 | 156
12 Jun 2014 #7
In the USA prepayment penalties cannot be on primary residential properties only on commercial or if the same applies in Poland?

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